Daily Archives: August 24, 2015

Damage awarded by Trial Court for Specific performance Q What is the Taxability of damage awarded by Trial Court for Specific performance ? Section 4, read with section 263 of the Income-tax Act, 1961 Subject : Changeability of Income received as Damages Assessment year 1995-96 Assessee had entered into an oral agreement with ECL to… Read More »

Taxability of Interest on FDR by Govt company acting as nodal agency of State Govt Q: Govt company, acting as nodal agency of state govt, kept the funds in Fixed Deposit, whether the interest earned will be treated as income of Govt company ? Section 4 of the Income-tax Act, 1961 Subject Chargeablility of Interest… Read More »

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